Please Explain With all Entries

On January 1st, 2000 Bilbo Company purchased all of the stock of Froto Company at book value Bilbo accounts for its purchase of Froto using the initial value (cost) method, and Froto does not pay any dividends.

On July 1st, 2023, Froto purchased $900,000 of inventory from Gandoff Company paying cash. Gandoff is independent of both Bilbo and Froto.

On October 1st, 2023, Froto Sold the inventory to Bilbo for $1,200,000 cash. Froto uses the perpetual method for inventory. At the end of 2023, Bilbo had not sold any of the inventory acquired from Froto.

During 2024, Bilbo sold 1/2 of the inventory acquired from Froto for $800,000.

In 2025, Bilbo sold the rest of the inventory acquired from Froto for $900,000.

REQUIRED:

1) Make Froto's journal entry when they sell the merchandise to Bilbo (Froto uses perpetual inventory)

2) Make Bilbo's journal entry when it buys the merchandise from Froto; Bilbo uses periodic inventory

3) make any necessary worksheet entried needed in 2023 connected with the inventory

4) in 2023, Bilbo reported (unconsolidated) inventory: $2,000,000 cost of goods sold $5,000,000 income $3,000,000 and Froto reported inventory $400,000, cost of goods sold $4,000,000, income $600,000 What is consolidated a) inventory, b) cost of goods sold, c) income

5) make any worksheet entried needed in 2024.

6) In 2024, Bilbo reported (unconsolidated ) inventory $2,000,000 cost of goods sold $5,000,000 income $3,000,000, and Froto reported inventory $400,000 cost of goods sold $4,000,000, income $600,000 what is consolidated a) inventory, b) cost of goods sold c) income

7) make any worksheet entries needed 2025

8) in 2025, Bilbo reported (unconsolidated) inventor $2,000,000, cost of goods sold $5,000,000, income $3,000,000, and Froto reported inventory $400,000 cost of goods sold $4,000,000, income $600,000 what is consolidated a) inventory, b) cost of goods sold c) income